CA unable to break through key resistance level

CA, Inc. (CA) Technical Analysis Report for Apr 16, 2018

Highlights

CA pushes through 50-day moving average
CA unable to break through key resistance level
CA pushes through previous session high
CA rises to highest close since March 21st

TQ Sentiment

Report Sentiment: 50% Bullish
Technical Forecast:

Overview

CA finished Monday at 35.00 gaining $0.49 (1.42%). Today's closing price of 35.00 marks the highest close since March 21st. Closing above Friday's high at 34.70, the market confirms its breakout through the previous session's high having traded $0.47 above it intraday.

Daily chart for CA

Volatility

Monday's trading range was $0.47 (1.35%), that's below last trading month's daily average range of $0.88. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

Unable to break through the key technical resistance level at 35.09, CA, Inc. closed below it after spiking as high as 35.17 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The share managed to break above the 50-day moving average at 34.63 today for the first time since February 12th.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for CA, Inc.

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